Market Journal - February 7, 2014

Market Analysis –“ Elaine Kub, author of "Mastering the Grain Markets," talks about the positive week for soybeans, the South American harvest and selling options for corn.

Part 1 - A Soybean Boom –“ With a good finish to the growing season and favorable weather during harvest, Brazil could very well overtake the United States as the world's number one soybean producer. Regardless, that crop will set a production record, and the same could happen across the border in Argentina. The USDA is expecting Argentina's farmers will produce 54.5 million metric tons (MMT) of soybeans and Brazil's total will be 89 MMT. The U.S. harvested a little more than 89.5 MMT during the 2013 season. The new highs in both Argentina and Brazil shouldn't be a surprise once you see how far and how fast the two countries have climbed in soybean production over the last two decades.

U.S. Cattle Inventory –“ The USDA's Cattle Inventory report shows U.S. farmers and ranchers are holding the fewest number of cattle and calves since 1951. Kate Brooks, UNL Extension livestock economist, analyzes the report and discusses the 2014 outlook for the cattle industry.

2014 Crop Budgets –“ Roger Wilson, UNL Extension budget enterprise analyst, outlines the set of 2014 crop budgets for Nebraska. There are 66 budgets this year; they can be found by clicking here.

Weather Forecast –“ Al Dutcher, UNL Extension state climatologist, gives his forecast for the coming week.